Haryana State Co-op bank to help women co-ops

With a view to ensuring supply of quality fruits and vegetables, Haryana state cooperative apex bank will provide loans to cooperative societies of vegetables and fruit growers, and women cooperative societies, reports Times of India.

Minister of state for cooperation said the upper limit of the loan would be Rs 5 lakh or 10 times the share capital of the societies. The societies would not have to deposit security for loans up to Rs 5 lakh.

The district central cooperative banks would disburse the loan amount of Rs 5 lakh, while the state government would contribute a subsidy of Rs 1 lakh or 20% of the loan, considering the lesser value.

The minister said the scheme for provision of loans to the societies has been designed such that the farmers could avail various incentives offered by the government and other related agencies. The minister added schemes would be implemented through all district central cooperative banks across the state.